Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 20 18: MCA Notification

Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 20 18: MCA Notification

MCA has notified the “Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 20 18”, whereby mainly Form No. MR-2 (relating to Application to the Central Government for approval of appointment of managing director or whole time director or manager) has been substituted, as under:

Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 20 18: MCA Notification dt. 12 Sept. 2018

G.S.R. …-In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, namely:-

1. (1) These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 20 18. (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 20 14,

(i) in rule 6,

(a) for the heading ‘application to the Central Government’ the heading ‘Parameters for consideration of remuneration’ shall be substituted.

(b) the words ‘Central Government’ shall be omitted.

(ii) in rule 7, sub-rule (2) shall be omitted

(iii) for form no. MR-2, the following form shall be substituted, (please refer above attachment for further details)

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